We have come a long way from the days of theoretic business process optimization. A massive wave of digital transformation is leaving electronic footprints and fingerprints that enable the ongoing optimization of business processes based on facts and figures. As a result, we are seeing a wave of new vendors in the business optimization market, which includes process mining and robotic process automation (RPA).
Process mining technology extracts business application data, tags it based on time and location within a business process, visualizes the business processes, logs variations, and makes recommendations for process improvement based on built-in advanced analytics. RPA technology identifies repetitive business processes with potential for automation and codifies the logic necessary to take intelligent action without human intervention. In some more critical areas, the RPA engine makes recommendations for validation by human decision-making.
